DescriptionOKEx selects 5 popular tokens including BTC, ETH, LTC, BCH, and EOS, along with the global utility token OKB to construct the OK06 index by using a capitalization-weighted methodology. OK06ETT provides an easy and efficient trading option for traders to replicate and tract the OK06 index, which reflects the performance of the digital asset market. By giving a variety of tracked tokens, OK06ETT fulfills the majority of your investment needs in digital asset. 1) Measurement: The measurement of OK06ETT is “unit”. The value of each unit is measured in USDT. 2) Objective of OK06ETT: To bring satisfactory return to traders in long-term and also to satisfy traders’ needs of diversifying their portfolio, this portfolio tracks OK06ETT index as the benchmark because of its comprehensive and representable features. A fully-replicated passive trading managing method is adopted to minimize the error. 3) Portfolio management: A full replication method is adopted, which is 100% copying the components of the index being tracked. Fine adjustment will be made according to the future changes of the components and weights of the index. 4) Performance measurement: It is evaluated based on the return of OK06ETT index. 5) Portfolio Features: As a passive management method is adopted, the return would be highly correlated to the index’s performance. As OK06ETT index reflects the volatility and trend of the whole digit asset market, a diversified portfolio would effectively lower the risk, in compare with buying only a single digital asset. Subscription and Redemption 1) Available period: The portfolio will open for subscription from 01:00 to 59:00 (minute) every hour on the hour. Your subscription will be settled at 01:00 of the next hour, along with all other subscriptions and redemptions. 2) Subscription settlement: All subscription and redemption will be processed with the same unit of measurement. The settlement price will be the weighted average price of the trading pairs in USDT equivalent. 3) Full subscription: Users can subscribe by using USDT and paying a certain amount of fees. The system will calculate each user’s number of successful subscription by using the settlement price. 4) Partial redemption: The redemption of your units proportionally. After redemption request is made, the system will help to redeem (the number of units * the components of each unit) back into the user account, and will charge the fees accordingly. 5) Full redemption: Redemption of the units held then sold as USDT. The system will redeem the number of units held into USDT as requested, and charge service fees. Under full subscription, the amount of USDT the user can redeem = settlement price * redeemed units – service fee. Under full redemption, a certain amount of unit will need to be sold as USDT; therefore, the value will fluctuate. Applicable Fees 1) Administration fee: A certain amount of fee is charged for the daily operations and administration of the portfolio. The portfolio holder will have to pay the fee according to the holding period. Every time when users perform a subscription or redemption, fees will be charged proportionally from their assets. The current annual administration fee is 0%. 2) Full subscription fee: When you are subscribing for the portfolio with USDT, a certain amount of fee will be charged. However, the subscription will also affect the proportion of the components, which may cause changes in the returns of other portfolio holders. Therefore, 50% of the subscription fee will be collected into the portfolio asset. The full subscription fee for the time being is 0%. 3) Redemption fee (in USDT): A certain amount of fee will be charged for redeeming the portfolio. The redemption fee for the time being is 0.2%. 4) Redemption fee (in underlying): A certain amount of fee will be charged for redeeming the portfolio. The redemption fee for the time being is 0.2%. Portfolio Management 1) Escrow of asset: The portfolio asset will be escrowed in a separate account of OKEx. Smart contract for automatic subscription and redemption will be established in the future, and the portfolio asset will be migrated into a public blockchain with multi-sig address, which can be accessed by smart contracts, traders and exchanges. So, a fully-decentralized operations can be carried out. 2) Airdrop and bonus: The approach will be altered based on the support from OKEx to the airdropped digital asset. If OKEx supports the fork or airdrop, the system will automatically sell the airdropped asset by proportion and transform into different components to increase the portfolio’s value.